When two casinos in Connecticut opened up for business in the early 90's, to make life easier they both reached an agreement with the state to pay them 25 percent of their monthly revenues from their slot machines. In accordance with this both the Mohegan Sun along with Foxwoods have had to report their total slots earnings each and every month to the state.
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How much anyone wins or loses on the slot machines depends in some part as to what actual machines that they play. For example the Mohegan Sun actually took in $53.5 million dollars in slot revenue just for one month in December 2010. This surprisingly was a 6% decline over the previous year according to sources.
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In reporting their numbers, the casino actually revealed some rather interesting information that many may be unaware of, therefore they may wish to pay attention to what was disclosed. Overall in the month of December 2010 a grand total of $673,412,991 was processed through the casino's slot machines.
This may most definitely be hard to believe, but this is not a misprint! This staggering figure is referred to by casinos as the handle. From this amount the casino only kept 7.94% of the total. This means that more than 92% went back to all the gamblers in winnings.
Now, here comes the really interesting bit, some valuable information that may get gamblers re-evaluating their playing strategy before they start dropping their dollars into their favorite slot.
The Mohegan Sun also do a breakdown on what machines give the gamblers the very best chances to win. The casino has almost six and a half thousand slots scattered throughout its vast sprawling gaming floors and as most gamblers will attest to it's easy to toss ones cash into these machines in many different denominations. What these December numbers showed was the cheapest slot machines paid out the worst.
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On the penny slots, 11% was kept by the casino with players collecting the other 89%. Nickel slots kept 12% returning 88% back to punters. Looking to the other scale of things the $2 slots kept only 2.03% returning 98% to gamblers, and the $10 slots kept a miniscule 1.77% of deposited cash returning 99.23 % to game players! Perhaps time to re-think where the buck should finally stop?
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When Connecticut's two casinos opened in the early 90s, they did so by reaching an agreement with the State of Connecticut to pay the state 25 percent of their monthly slot revenues.
As a result, both Mohegan Sun and Foxwoods must report their total slot earnings to the state each month. In December 2010, Foxwoods earned $45 million on its slot machines, an increase of 1.2 percent over December 2009.
Mohegan Sun took in $53.5 million dollars in December slot revenue. That's a 6 percent decline over December 2009, according to The Day of New London.
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In reporting its numbers, Mohegan Sun actually revealed some interesting information some gamblers might want to pay attention to.
Overall in December, $673,412,991 went through Mohegan's slot machines. It's a staggering number, referred to as the handle, by casinos. But Mohegan Sun only kept 7.94 percent of that total amount. That means more than 92 percent went back to gamblers.
What may be even more valuable information to the millions of people who drop dollars into those ringing, buzzing and screeching machines is that Mohegan Sun also breaks down which machines actually give gamblers the best odds at winning.
The casino has 6,404 slot machines scattered throughout it's sprawling gaming floors, and as most gamblers know, you can toss your money into those machines in many different denominations. But what the casino's December numbers show is that some of the 'cheapest' slot machines, actually have the worst odds for patrons.
For example, Mohegan Sun kept 11 percent of all of the money that went into its penny slot machines, with 89 percent returned to the players. That must be why the casino has more penny slots, 2,532 machines, than any other type. Not surprisingly, the majority of Mohegan Sun's slot revenue comes from these penny slots. Nickel slot machines took 12 percent, and give back 88 percent in December.
On the other side of the scale, the casino's $2 slots kept just 2.03 percent of the money that went in, giving back just under 98 percent to gamblers. The best deal for players, if you can afford it, was the casino's $10 slot machines, which kept a minuscule 1.77 percent of the money put into them, returning 99.23 percent to those spending their hard-earned cash.
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In the middle were the casino's quarter slots, which returned more than 91 percent of the money put in back to patrons, and the $1 machines gave back more than 93 percent to gamblers.
But for those who want to play those machines, their best bet may be to play Mohegan Sun's multi-denomination slots. Those are machines on which a player can choose to bet in different amounts. In December, they returned 95 percent of the money that went into them. So gamblers had better odds dumping quarters into a multi-denomination machine, than playing those same coins on the quarter slots.